COVER is a governance token of a protocol that completing the open-finance puzzle: Unstoppable coverage, protecting participants against unexpected incidents.
COVER v2 by the team :
- Specific, isolated risk within protocols (ex: each Yearn vault can have its own covToken coverage)
- Bundled protocols (ex: CurveAaveYearn bundle)
- Amplified liquidity
- Dynamic fees
- Expansion into real-world coverage (multiple CVC groups)
COVER v1.1 by Andre Cronje :
- Perpetual coverage (audit is done, pending to launch)
COVER integration with Yearn v2 :
- Integration with COVER API
- Supported Cover Protocol lists updates automatically
- Supports price/purchasing slippage calculations
While waiting for further releases on the above (Q1 - early Q2 2021) COVER holders can align the supply-demand of the governance token, incentivising positive constructing ideas and accumulating fund for sustainable development. The result of this proposal can be revisited whenever major changes affect the protocol or its governance holders.
There are a set of COVER tokens which are yet to be claimed and they should not be just left being unused. These unclaimed COVER are better off used for future incentives instead of just having them being unclaimed. In order for this to happen, the minter key should be set to be held by Cover Protocol’s development team’s multisig.
Remove minting rights from COVER distributor and set to dev multisig
If you are reading this and have not redeemed your COVER tokens, please do so before the decided date.
After the poll ends, it will be moved to a snapshot vote to finalize the governance decision.
- Remove minting rights from COVER distributor and set to dev multisig
- Remove minting rights from COVER distributor and set to 0x0
- Do nothing
- 31 January 2021
- 28 February 2021
- 31 March 2021